CGI Inc. (NYSE:GIB) Given Consensus Rating of “Buy” by Brokerages

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has earned a consensus rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $137.00.

Several brokerages have issued reports on GIB. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a report on Thursday, August 1st. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th.

CGI Trading Up 0.3 %

NYSE GIB opened at $107.39 on Monday. The business has a 50 day simple moving average of $113.74 and a 200 day simple moving average of $107.98. CGI has a one year low of $96.92 and a one year high of $118.89. The stock has a market capitalization of $24.48 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Dividend Announcement

The business also recently announced a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a $0.111 dividend. The ex-dividend date is Wednesday, November 20th. This represents a dividend yield of 0.4%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GIB. National Bank of Canada FI lifted its holdings in shares of CGI by 23.6% in the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after purchasing an additional 861,771 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in CGI by 3,776.8% during the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock worth $77,381,000 after acquiring an additional 681,747 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CGI by 68.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares during the period. Barclays PLC lifted its holdings in CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in CGI by 1.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after acquiring an additional 230,000 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.